Sen. Markwayne Mullin Sells Abbott Laboratories (NYSE:ABT) Shares

Senator Markwayne Mullin (R-Oklahoma) recently sold shares of Abbott Laboratories (NYSE:ABT). In a filing disclosed on December 31st, the Senator disclosed that they had sold between $15,001 and $50,000 in Abbott Laboratories stock on December 11th.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Eaton (NYSE:ETN) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of CyberArk Software (NASDAQ:CYBR) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Axon Enterprise (NASDAQ:AXON) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Eaton (NYSE:ETN) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Sprouts Farmers Market (NASDAQ:SFM) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Stride (NYSE:LRN) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of Badger Meter (NYSE:BMI) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of CyberArk Software (NASDAQ:CYBR) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Freshpet (NASDAQ:FRPT) on 12/18/2024.

Abbott Laboratories Trading Up 0.3 %

Shares of NYSE ABT opened at $113.11 on Wednesday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The stock has a market cap of $196.18 billion, a price-to-earnings ratio of 34.38, a P/E/G ratio of 2.69 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average is $115.61 and its 200-day moving average is $112.07.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.09%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is currently 71.73%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research analyst reports. Barclays upped their target price on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Oppenheimer began coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler Companies began coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Finally, UBS Group lifted their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.71.

Institutional Investors Weigh In On Abbott Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. Simplify Asset Management Inc. increased its stake in Abbott Laboratories by 67.3% in the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after acquiring an additional 5,664 shares during the last quarter. Dundas Partners LLP boosted its position in Abbott Laboratories by 2.1% during the 2nd quarter. Dundas Partners LLP now owns 330,227 shares of the healthcare product maker’s stock worth $34,313,000 after buying an additional 6,897 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after purchasing an additional 31,720 shares during the period. Tidal Investments LLC lifted its stake in shares of Abbott Laboratories by 30.5% in the third quarter. Tidal Investments LLC now owns 107,308 shares of the healthcare product maker’s stock worth $12,234,000 after acquiring an additional 25,052 shares during the period. Finally, MONECO Advisors LLC boosted its stake in shares of Abbott Laboratories by 110.1% in the 3rd quarter. MONECO Advisors LLC now owns 31,148 shares of the healthcare product maker’s stock valued at $3,551,000 after purchasing an additional 16,325 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.